Bank Reconciliation is a financial process that involves comparing two bank accounts to ensure the accuracy of each record. The process starts with obtaining and verifying the bank statements from both accounts. Next, any discrepancies will be identified and examined carefully in order to properly adjust the account balances. Once adjustments have been made, the new reconciliation statement will be produced, outlining all transactions and adjustments made. The final step is to confirm that the account information matches, allowing a business owner to rest easy knowing their records are accurate. A visual representation of this process can be seen with a Bank Reconciliation Process Flow Chart – a simple but powerful tool that helps provide clarity and peace of mind.